The European Union and the Gulf Cooperation Council's Joint Council meet today at the Al Bustan Palace Hotel to put on track the Free Trade Agreement talks that were derailed by the GCC last December.
India and Oman are in the final stages of setting up a $100-million fund that will be utilised in development and infrastructure projects in both nations. To boost trade relations with Oman and other Gulf nations, Oman has urged India to sign a Free Trade Agreement (FTA) with the six-member Gulf Cooperation Council (GCC).
The Gulf Cooperation Council chief and Saudi and Omani ministers on Sunday discussed how to revive talks on a free trade accord with the European Union that broke down in December
The United Arab Emirates (UAE) has proposed to Indonesia to enter into a Free Trade Agreement (FTA) with the Gulf Cooperation Council (GCC), Indonesian Ambassador to the UAE M Wahid Supriyadi said.
Iran's cabinet gave the green light for the signing of an agreement for free trade among Iran and the Persian Gulf Cooperation Council, announced a commerce ministry official here on Sunday.
The demands which stood as obstacles to signing an EU-GCC FTA are non-commercial demands, although GCC countries made a great leap in updating and modernising economic and commercial laws in the past years, thinking this would meet EU requirements in this respect.
Malaysia is hopeful that negotiations for the Free Trade Agreement (FTA) between the Gulf Cooperation Council (GCC) and Malaysia can commence as soon as possible, Prime Minister Datuk Seri Abdullah Ahmad Badawi said.
Gulf oil producers have accused their main economic partner the European Union (EU) of lacking interest in signing the long-sought free trade deal as it shifts interest to partners in East Europe.